FINANCIAL PLANNING SERVICES

Tax Minimisation Strategies

Throughout your professional or business journey, you’ll likely earn millions of dollars. Unfortunately, a significant portion of those earnings will also go towards taxes. Your hard-earned money deserves a smarter approach.

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Maximising your money through tax minimisation strategies

Tax minimisation strategies encompass a comprehensive set of tactics and approaches designed to legally and ethically reduce the amount of taxes an individual or business is obligated to pay. These strategies leverage the intricacies of Australian tax laws, regulations, and incentives to optimise your financial position.

These strategies could be as simple as putting more into super, or as complex as reorganising your business structures. Either way, a solid plan could help you retain more of your hard-earned money and save you thousands, or possibly millions, in future tax dollars.

Why you need a tax expert

Navigating the intricacies of taxes can be overwhelming, and the array of strategies to minimise them span a wide spectrum. There are likely many tax strategies that can be tailored to the unique circumstances that you are unaware of.

Just like you’d rely on a mechanic for your car or a medical expert for your health, an accountant is your tax specialist.  They handle comprehensive strategic tax advice, from simple steps like maximising deductions on your tax return to securing your family’s financial future.

Minimise tax with Financial Spectrum

Our team of in-house chartered accountants is poised to streamline your financial matters effortlessly. From expert tax and business advisory to safeguarding your wealth through trusts and asset protection strategies, we cover it all.

As life shifts, our tax experts adapt strategies. Whether moving from permanent employment to contracting, reorganising business structures, or transitioning to retirement, an effective plan has the power to potentially save you substantial future tax payments.

How we work with you

Our team of accountants invest the time to get to know you, your business and what you want out of life in the future. We take holistic approach to all facets of your life and presents creative, out of the box solutions to give you a financial edge.

If you also work with Financial Spectrum’s financial advisors, we streamline your financial management, making it both more straightforward and cost-effective. By strategically navigating the tax landscape, we can help you retain more of your hard-earned money and grow your wealth.

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Results

We have been clients of Brendon for over a year now and how our lives have changed. Previously we could see no possible way we would be able to retire comfortably and be debt free, but Brendon gave us a road map to get to that point in four years....
Michael, Sydney
We've been using Financial Spectrum for a few years after they were recommended by a friend in the finance industry. Brenton, Thomas, Alan and the rest of the team are very thorough, efficient, knowledgeable, ethical, genuine and lovely to deal with. All parts of our financial lives are sorted from...
Sarah and Chris, Sydney
I can already see why you and your colleagues at Financial Spectrum have the customer reviews you do, and I imagine it only gets more impressive from here on out.
Heidi, Sydney
The team at Financial Spectrum have been a huge help to my wife and I. Our planner has given really helpful advice including the development of a SMSF. We feel like he has taken considerable time to understand our unusual circumstances and has tailored to them. We feel understood, significantly...
Chris and Kerry, Sydney
Really impressed with Brenton and his team. Friendly, responsive, professional service. Takes the stress out of (and adds excitement to) planning for our future.
Alex, Sydney
If you require any guidance or assistance with your finances, do not hesitate to reach out to Financial Spectrum. Greg and the team at Financial Spectrum are a group of authentic, sincere, and friendly financial planners. He prioritises getting to know you by asking the right questions without being in...
Grace, Sydney

Results

After talking to four financial planning firms, we engaged Greg from Financial Spectrum to help develop our first financial/ wealth planning strategy. We've found his advice to be quite strategic, realistic and on-point such that it thoroughly considers our short-term and long-term goals. I especially appreciate Greg taking our adhoc...
Nakul, Sydney
The team at Financial Spectrum have been a huge help to my wife and I. Our planner has given really helpful advice including the development of a SMSF. We feel like he has taken considerable time to understand our unusual circumstances and has tailored to them. We feel understood, significantly...
Chris and Kerry, Sydney
We have been clients of Brendon for over a year now and how our lives have changed. Previously we could see no possible way we would be able to retire comfortably and be debt free, but Brendon gave us a road map to get to that point in four years....
Michael, Sydney
After choosing Financial Spectrum as my financial adviser I have a better understanding of my financial situation. Their expertise and industry knowledge have equipped me to develop clear goals and a step-by-step plan to achieve them. It was daunting with the complexities of my trust and company structure, but Financial...
Jake, NSW
I can already see why you and your colleagues at Financial Spectrum have the customer reviews you do, and I imagine it only gets more impressive from here on out.
Heidi, Sydney
I was referred to Financial Spectrum by my long term accountant. We knew that we needed to get strategic help and to put some structure to our finances. Financial Spectrum collaborated with us to develop well-defined goals and a financial strategy to match. The Financial Spectrum team is extremely knowledgeable,...
Richard, Sydney

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Frequently asked questions

Absolutely. Tax rules can be intricate, and there are often deductions you might not be aware of. For example, certain job-related expenses or investments can be tax-deductible. A tax accountant specialises in these details. They know the ins and outs of deductions and credits, working to maximise your return. With their expertise, they uncover hidden expenses and tailor your claim to your situation, potentially resulting in thousands more back in your pocket.

The ATO has an eye on cryptocurrency investors so it’s worth seeking an accountant to get advice on structure, e.g. whose name you should invest in, what structure you should invest in, and whether you use savings or borrow to invest. The long-term tax difference between the various options can result in thousands (or millions) in taxes.

With an accountant, your lodgement deadline extends, aiding cash flow. Self-lodgers face an October 31 deadline, but with an accountant, you usually have until May 15. Late tax returns attract penalties.  The ATO may issue a formal default assessment warning letter, which will likely make you worse off as it will not include most of the deductions you’re entitled to.

Doing your own tax return means full responsibility.  Even small mistakes expose you to fines, penalties and interest if you get audited. A tax accountant can not only help you get a larger tax refund but also offers peace of mind. A professional tax accountant ensures accurate compliance with tax laws, granting you reassurance if you’re audited.

One of the simplest ways to avoid an ATO audit, or to ensure everything goes smoothly if you are audited, is to use a tax accountant. It’s a tax accountant’s job to know what you can and can’t claim, complete the forms and advise you accordingly. While they guide you, it’s still up to you to provide accurate details, including transparent deductions and complete income declaration.

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